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Entrepreneurship and human capital: distilling models of local economic growth to inform policy

Entrepreneurship and human capital: distilling models of local economic growth to inform policy The aim of this paper is to engage with the translation and linking of the “scientific knowledge” of theory on local economic growth with the “practical knowledge” of, on the one hand, local economic policy formulation and, on the other hand, entrepreneurship and entrepreneurship education. The paper uses theoretically informed empirical modelling to identify and prioritise the drivers of local economic growth using data for Australia. The analyses demonstrate the significance of human capital and an enterprise culture in promoting local employment growth. From these results it is suggested that “bottom up” entrepreneurial education and related, but more “top down”, enterprise facilitation are practical mechanisms for achieving such local growth. These results suggest the great importance of translating “scientific knowledge” into “practical knowledge” to allow communities to engage with the knowledge economy. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Small Business and Enterprise Development Emerald Publishing

Entrepreneurship and human capital: distilling models of local economic growth to inform policy

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Publisher
Emerald Publishing
Copyright
Copyright © 2004 Emerald Group Publishing Limited. All rights reserved.
ISSN
1462-6004
DOI
10.1108/14626000410567071
Publisher site
See Article on Publisher Site

Abstract

The aim of this paper is to engage with the translation and linking of the “scientific knowledge” of theory on local economic growth with the “practical knowledge” of, on the one hand, local economic policy formulation and, on the other hand, entrepreneurship and entrepreneurship education. The paper uses theoretically informed empirical modelling to identify and prioritise the drivers of local economic growth using data for Australia. The analyses demonstrate the significance of human capital and an enterprise culture in promoting local employment growth. From these results it is suggested that “bottom up” entrepreneurial education and related, but more “top down”, enterprise facilitation are practical mechanisms for achieving such local growth. These results suggest the great importance of translating “scientific knowledge” into “practical knowledge” to allow communities to engage with the knowledge economy.

Journal

Journal of Small Business and Enterprise DevelopmentEmerald Publishing

Published: Dec 1, 2004

Keywords: Entrepreneurialism; Human capital; Economic growth; Economic models; Local economies; Australia

References